The Asian Development Bank (ADB) said on Thursday that it has approved a 300 million U.S. dollars loan to support the Philippines' efforts to help local government units (LGUs) across the country deliver high-quality and accountable services, boost economic development and reduce poverty.
The Manila-based bank said the Local Governance Reform Program (LGRP) subprogram 1 is empowering and equipping LGUs to meet the needs of citizens and ensure they deliver services aligned with local preferences, improve their capacity to raise their own revenue, and lower the cost of doing business for the private sector.
According to ADB, the program is in line with the government's plan to expand the role of LGUs as catalysts of local economic development, as outlined in the Philippine Development Plan 2017 to 2022.
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